Multiple choice

A man deposited Rs 8,000 in a bank for 3 years at 5% per annum compound interest. After 3 years he will get

  1. Rs 8,800

  2. Rs 9,000

  3. Rs 9,200

  4. Rs 9,261
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Compound interest formula: A = P(1 + r/100)^n. A = 8000 * (1 + 5/100)^3 = 8000 * (1.05)^3 = 8000 * 1.157625 = 9261.

AI explanation

Using the compound interest formula A = P(1 + R/100)^N, the amount is 8000 * (1.05)^3. Calculating the multiplier gives 1.157625, and multiplying this by 8000 results in the final amount. The total amount he will get is Rs 9,261.

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